58.com Inc (WUBA) Receives $77.25 Average Target Price from Analysts

58.com Inc (NYSE:WUBA) has received a consensus rating of “Hold” from the eight research firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $77.25.

A number of equities analysts recently commented on WUBA shares. Benchmark lowered their price target on shares of 58.com from $96.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, November 16th. CLSA reiterated a “buy” rating on shares of 58.com in a research note on Thursday, September 20th. Morgan Stanley lowered shares of 58.com to a “sell” rating and set a $40.00 price target for the company. in a research note on Thursday, December 20th. ValuEngine lowered shares of 58.com from a “buy” rating to a “hold” rating in a research note on Saturday, November 10th. Finally, Zacks Investment Research lowered shares of 58.com from a “hold” rating to a “sell” rating in a research note on Thursday, November 8th.

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58.com stock traded down $0.64 during midday trading on Friday, reaching $56.44. The stock had a trading volume of 24,718 shares, compared to its average volume of 847,260. The firm has a market capitalization of $8.53 billion, a price-to-earnings ratio of 42.45, a P/E/G ratio of 0.67 and a beta of 1.62. 58.com has a twelve month low of $50.30 and a twelve month high of $89.90.

58.com (NYSE:WUBA) last issued its earnings results on Wednesday, November 14th. The information services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.20. 58.com had a net margin of 16.13% and a return on equity of 9.57%. The business had revenue of $527.20 million for the quarter, compared to analyst estimates of $515.83 million. During the same period in the previous year, the business earned $0.49 EPS. The firm’s revenue was up 28.5% on a year-over-year basis. Equities analysts expect that 58.com will post 2.02 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its holdings in shares of 58.com by 20.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 103,855 shares of the information services provider’s stock worth $7,202,000 after buying an additional 17,732 shares during the last quarter. US Bancorp DE boosted its holdings in shares of 58.com by 804.7% in the 2nd quarter. US Bancorp DE now owns 18,891 shares of the information services provider’s stock worth $1,310,000 after buying an additional 16,803 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in shares of 58.com by 27.2% in the 2nd quarter. GSA Capital Partners LLP now owns 7,365 shares of the information services provider’s stock worth $511,000 after buying an additional 1,577 shares during the last quarter. BlackRock Inc. lifted its holdings in 58.com by 5.0% during the second quarter. BlackRock Inc. now owns 4,467,505 shares of the information services provider’s stock valued at $309,777,000 after purchasing an additional 213,701 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of 58.com by 8.1% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 42,800 shares of the information services provider’s stock valued at $2,968,000 after buying an additional 3,200 shares during the period. 59.69% of the stock is currently owned by hedge funds and other institutional investors.

58.com Company Profile

58.com Inc operates online classifieds and listing platforms that enable local businesses and consumers to connect, share information, and conduct business in the People's Republic of China. It operates multi-content category online classified platforms primarily under the 58 and Ganji names; and Anjuke, an online real estate listing platform.